Rugby is no longer the only sporting show on the horizon for CVC Capital Partners with news breaking last night that they are to invest €300 million in a new venture looking to take Volleyball to a higher level in a global context.
The sport claims an active fan base around the world of 800 million and its ease of set up and play makes it a winner in terms of its widespread global appeal across all continents.
In a statement issued last night the FIVB, the sports international governing body said:
“The International Volleyball Federation (FIVB) and CVC Capital Partners Fund VII are pleased to announce the launch of Volleyball World, a new partnership which will drive innovation, growth and investment in volleyball around the globe.”
“Volleyball is the fourth most popular sport globally, with more than 800 million fans and high participation, across attractive markets, including Italy, Brazil, Japan, Poland, China and the US. Volleyball was the most-watched sport at the 2016 Rio Olympic Games, with 2.6 billion viewer hours globally.”
“Volleyball World will become the commercial entity for the sport around the world, initially for FIVB and aiming at working later alongside other leagues and federations, with the goal of increasing the profile and popularity of the sport, through fresh investment for the benefit of fans, players and National Federations. Volleyball World will be responsible for the commercial operation of key volleyball and beach volleyball international events, including the World Championships, Olympic Qualifiers and the Volleyball Nations League. The partnership will focus on event hosting, fan experience, media, data / digital opportunities, and sponsorship to grow commercial revenues for reinvestment, which will ensure the long-term success of the sport.”
“FIVB, together with its 222 National Federations, will remain the sole, global volleyball regulatory body with responsibility for the sport and its development. As the majority shareholder in Volleyball World, FIVB will oversee the new commercial vision for volleyball while ensuring the interests of all stakeholders are represented. CVC brings extensive experience to this partnership, with a strong track record of investing in multiple sports businesses, including Formula 1, Moto GP, and Rugby. CVC also brings access to a broad international network of relationships with offices in 22 countries in Europe, Asia and the Americas, which will help accelerate the commercial growth of volleyball and investment in the sport at all levels.”
Broadcaster and streaming specialist DAZN is also involved in the new venture.
It is an exciting opportunity for the sport to follow others including Netball in capitalising on a strong grassroots interest and turn it into a major fan and media sport.
The CEO of the new organisation is Finn Taylor who joins from Cirque de Soleil giving an indication of the kind of visual power he will bring to the new venture.
Sport for Business Partners
